Fluorinated Organic Compounds find wide applications in refrigerants, solvents, aerosol propellants, blowing agents, and pharmaceuticals and chemicals intermediaries. Fluorinated organic compounds offer advantages over hydrocarbon-based counterparts including lower toxicity, low surface tension, chemical inertness, thermal stability, and non-flammability which make them suitable for use in various end-use industries. The growing pharmaceutical sector in India coupled with increasing usage of Fluoroorganic compounds as solvents and intermediaries in drug manufacturing is fueling market growth.
The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends spurring growth in the India Fluorinated Organic Compounds Market is the increasing usage of fluoroorganic compounds in refrigerants. Fluorinated organic compounds have very low global warming potentials and zero ozone depletion potentials, which make them suitable replacements for chlorofluorocarbons and hydrochlorofluorocarbons banned under the Montreal Protocol. Increasing enforcement of environmental regulations regarding phasing out of ozone depleting substances has spurred demand for fluoroorganic refrigerants such as HFC-32, HFC-125, HFC-134a, HFC-143a, and HFC-152a in industrial and commercial refrigeration systems as well as cold storage warehouses and transportation refrigeration units. Large refrigerated warehouse capacities required by the rapidly growing e-commerce sector in India is also driving consumption of fluoroorganic refrigerants.
Strength: The India fluorinated organic compounds market is expected to grow at a high CAGR due to increasing use in refrigeration and air conditioning sectors. Growing application in electronic equipment, automotive, construction also presents growth opportunity.
Weakness: Strict environment regulations over fluorinated greenhouse gases emission may hamper market growth to some extent. High costs associated with synthesis of fluorinated organic compounds also acts as a challenge.
Opportunity: Increasing investment by government and private players in fluoropolymer production is anticipated to present lucrative opportunity. Rising demand from developing industries like solar panels and batteries further opens new avenues.
Threats: Availability of alternative compounds may threaten existing demand for fluorinated organic compounds. Economic slowdown affecting end use industries negatively impacts market size.
Global India Fluorinated Organic Compounds Market Growth is expected to witness high growth. The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
The India market dominates the regional market and is expected to maintain its leading position during the forecast period as well. Growing construction, automotive and electronics industries drives the fluorinated organic compounds demand in the region.
Key players operating in the India fluorinated organic compounds are Cerner Corporation, Allscripts, Apple Inc, Telefonica S.A., McKesson Corporation, Epic Systems Corporation, QSI Management, LLC, AT&T, Vodafone Group, Airstrip Technologies, Google, Inc, Samsung Electronics Co. Ltd, HiMS, Orange, Qualcomm Technologies, Inc, Softserve, MQure, Computer Programs and Systems, Inc, Vocera Communications, IBM Corporation, CISCO Systems, Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it